1604 Drexel Condominium Association, Inc.

Key facts from 1604 Drexel Condominium Association, Inc.'s documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.4 - Name: 1604 Drexel Condomin)

Legal name

1604 DREXEL CONDOMINIUM ASSOCIATION, INC. (Section 2.4 - Association definition)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) as existing on date of declaration (Section 2.1 - Act definition)

Assessments & dues

Based on annual budget approved by Board; each unit pays share as per percentages in Exhibit B (based on square footage) (Section 5.1 - Ownership shares based on )

Special assessments

Board may levy Special Assessments without unit owner vote for any amount (no cap mentioned) but material additions costing over $50,000 require unit owner approval (Section 8). (Section 13.2 - Board may levy Special As)

Collections & liens

Association may file claim of lien after 30 days written notice to unit owner; may accelerate remaining installments for the fiscal year; foreclosure permitted; notice of intention to foreclose required 30 days before filing; receiver may b (Section 14.2 - acceleration; Section 14.)

Reserves & fees

Required by Act; all reserves required by the Act or otherwise established by Association are included in Common Expenses (Section 2.10 - Common Expenses shall als)

Leasing & rentals

Yes (implied by references to tenants and leasing in multiple sections) (Section 14.9 - references to leasing Uni)

Fences

Not specifically addressed; exterior modifications subject to Board approval (Section 7.2)

Architectural approval

Yes - alterations to Common Elements require approval of Board and 75% vote; interior alterations to Unit require approval if not meeting criteria; all modifications to exterior of Unit require prior written approval of Board or committee (Section 9.1 - alterations to Common Elem)

Home business

Not explicitly prohibited; Section 18 not fully provided (Not found)

Signs & flags

Developer may erect signs until turnover (Section 3.4(f)); no general sign restrictions for owners in provided text (Section 3.4(f) - Developer may erect sig)

Maintenance

Association responsible for all roofs, including replacement and repair (Section 7.1(b)(i) - the Association shal)

Insurance

Policies may contain reasonable deductible provisions as determined by Board (Section 15.3(a) - 'Such policies may con)

Use restrictions

Yes (implied by description of Units as Residential Units and occupancy/use restrictions) (Section 3.4 - Residential Units; Section)

Voting & meetings

One vote per Unit; each Unit Owner is a member of the Association and entitled to one vote (Section 5.2 - Voting: Each Unit shall be)

Amendments

By Unit Owners: affirmative vote of 75% of all Condominium Parcels at a meeting validly called (Section 6.1). By Developer: until control transferred, Developer may amend unilaterally (Section 6.2). Special Amendment by Developer to comply (Section 6.1, 6.2, 6.3, 6.4)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.